Pound (GBP)
In the absence of any notable UK economic releases, the direction of the pound (GBP) is likely to be primarily influenced by wider market trends. A cautious mood could see Sterling slide against its stronger peers.
Euro (EUR)
In the spotlight for EUR investors this week will be the publication of Germany’s latest inflation figures. Another cooldown in inflation will likely stoke European Central Bank (ECB) interest rate cut bets and drag on the euro (EUR).
US dollar (USD)
This week sees the publication of the latest core PCE price index. If the Federal Reserve’s preferred indicator for inflation supports the bank’s more hawkish monetary policy outlook, the US dollar (USD) is likely to strengthen.
Australian dollar (AUD)
The Australian dollar (AUD) may come under pressure with the release of Australia’s latest CPI indicator this week. Another dip in inflation is likely to fuel bets that the Reserve Bank of Australia (RBA) will continue to cut rates in the coming months.
South African rand (ZAR)
The focus for ZAR investors this week will be the South African Reserve Bank’s (SARB) latest interest rate decision. A widely expected rate cut could see the South African rand (ZAR) stumble in the latter half of the week, especially if the SARB signals more cuts are on the cards.
Canadian dollar (CAD)
The Canadian dollar (CAD) is likely to face resistance later this week as Canada’s quarterly GDP figures are expected to report growth slowed in Q1 amid trade tensions with the US.
New Zealand dollar (NZD)
Another interest rate cut from the Reserve Bank of New Zealand (RBNZ) is likely to undermine the New Zealand dollar (NZD) this week, particularly if the bank leaves the door open to further cuts.